Deferiet amends bond resolution

DEFERIET  The village Board of Trustees passed a resolution to amend a bond resolution for the joint water project with the village of Herrings.

The village previously adopted a bond resolution for its water storage tank and water system upgrades project in July 2010.

According to attorney Mark G. Gebo of Hrabchak, Gebo and Langone, the resolution was set forth at the urging of the funding agency Environmental Facilities Corp. in order to give the option to level out the debt payment. There was no change in the amount or terms of the loan.

The amendment allows for an issuance of serial bonds not to exceed $4 million.

In other business, the board determined that village employees would receive time and a half for hours worked on an approved holiday in addition to their holiday pay.

The workers are given six paid holidays per year but due to weather the Department of Public Works employees were called into service on Christmas and New Years Day. The village employees also are given Thanksgiving, Labor Day, July 4 and Memorial Day as paid holidays with eight hours for the full-time supervisor and four hours for the labor force.

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